Matson

May 22, 2009

Subject:  Matson Raising Fuel Surcharge for Hawaii, Guam/CNMI and Micronesia Services by 3.5 Percentage Points

As a result of rising fuel related costs, Matson Navigation Company is raising its fuel surcharge by 3.5 percentage points, from 16.5 to 20 percent for its Hawaii service, and from 18 to 21.5 percent for its Guam/CNMI and Micronesia service, effective June 21, 2009.

"As many of our customers are aware, fuel prices escalated dramatically in the past month," said Dave Hoppes, senior vice president, ocean services. "Fuel related costs directly impact Matson and other transportation companies' operating costs and are an unavoidable expense. While we were able to make six consecutive decreases in 2008, the current volatility in fuel prices makes this second upward adjustment in 2009 necessary. We are hopeful that fuel prices will begin to moderate. However, if they do not decline soon, Matson will need to make further upward adjustments."

If you have any questions, please contact your local account executive or our Customer Support Center. Thank you for shipping with Matson.